Extended Warranty

[sherlock1]

Just bought the wife a 2000 Lexus RX300 with 75,000 miles on it (she lets me drive it to church on Sundays but otherwise I don't get to touch it). Paid a private party $13,100 for it. Thankfully the seller didn't check NADA before she quoted me the price. I had been testing a 1999 with 112,000 miles and the dealer was asking $11,300 for it. This after they had to put in a new fly wheel because the previous dealer failed to replace the engine/transmission dowels when they replaced the motor last year, thereby causing the fly wheel to break due to the torque between the motor and transmission (or so that's what was explained to me by a local transmission shop owner who owns a 2004). Yeah, I know, red flags popping up everywhere. Found the 2000 when I stalked a lady driving it in a local parking lot and asked how she liked it. She mentioned that she loved it but was seriously considering trading it in for a new Toyota Highlander. I asked if she would consider selling it outright and the rest as they say, is history.

Anyway, my bank would only offer me a 12,000 mile/12 month warranty on it for around $2,500. No thanks. Did some checking on the internet and got a postcard from another company. The postcard was from Warranty America. After about a half hour on the phone with them I got an offer of a 100,000 mile/5 year power train warranty for $150.00 down and $76.00/mo for 24 months interest free= $1,974. They gave me an extended right of rescinsion for 30 days so I can research the company a little more.

Does anybody have any experiences with this warranty company (good or bad) that they can let me in on? Or does anybody have a suggestion for an extended warranty company that doesn't cost as much as the car itself that they have had good luck with?

Thanks in advance for any replies.